Ms WALKER - 2011-05-03
Can the Treasurer please update the House on the key features of Budget 2011-12?
ANSWER
Madam Speaker, I thank the member for Nhulunbuy for her question. This budget is about helping families get ahead and deal with cost-of-living pressures. It has the most generous concessions in the nation embedded in it.
Importantly, it builds on our economic opportunities to position the Territory for the next phase of our economic growth. It delivers better hospitals, better schools, better roads, and more housing. It drives our economy with that critically important $1.5bn infrastructure investment to support 3000 jobs. The payroll tax cuts will save Territory businesses $6.6m a year to support those all-important jobs in small- and medium-sized enterprises. We maintain our position of being the lowest-taxing jurisdiction in the nation for small and medium businesses, a record we are justifiably proud of.
It delivers BuildBonus, a $10 000 grant to buy or build a new home, stimulating the building industry and helping Territory families buy a home. Homestart NT is expanded to help our low- to middle-income buyers.
There is a $633m investment in infrastructure to support A Working Future across the bush; a $530m infrastructure investment in housing, including fast-tracking land release; and $75m for new and upgraded urban public housing.
We are delivering quality and affordable education and health services with record budgets. There is a record police budget with 400 more police on the beat. We deliver on important reforms - the alcohol reforms, child protection service improvements, and that new era in Corrections.
Budget 2011-12 is a responsible budget. It is also a budget responsive to the needs and challenges of the Territory now, both economically and socially. We have made a deliberate decision to go into deficit to fund our infrastructure budget to protect and create jobs in an environment of reducing GST revenue. We know this is the responsible thing to do.
Listen to the economic commentators and the response from this budget. Everyone except the CLP understands where the Territory is in its economic and social cycle, and how this government is ensuring we have the economic and social drivers right in the budget outcomes. The budget is worth $5.3bn. It is financially responsible and sustainable. It supports families to get ahead, and it builds on our economic opportunities.
ANSWER
Madam Speaker, I thank the member for Nhulunbuy for her question. This budget is about helping families get ahead and deal with cost-of-living pressures. It has the most generous concessions in the nation embedded in it.
Importantly, it builds on our economic opportunities to position the Territory for the next phase of our economic growth. It delivers better hospitals, better schools, better roads, and more housing. It drives our economy with that critically important $1.5bn infrastructure investment to support 3000 jobs. The payroll tax cuts will save Territory businesses $6.6m a year to support those all-important jobs in small- and medium-sized enterprises. We maintain our position of being the lowest-taxing jurisdiction in the nation for small and medium businesses, a record we are justifiably proud of.
It delivers BuildBonus, a $10 000 grant to buy or build a new home, stimulating the building industry and helping Territory families buy a home. Homestart NT is expanded to help our low- to middle-income buyers.
There is a $633m investment in infrastructure to support A Working Future across the bush; a $530m infrastructure investment in housing, including fast-tracking land release; and $75m for new and upgraded urban public housing.
We are delivering quality and affordable education and health services with record budgets. There is a record police budget with 400 more police on the beat. We deliver on important reforms - the alcohol reforms, child protection service improvements, and that new era in Corrections.
Budget 2011-12 is a responsible budget. It is also a budget responsive to the needs and challenges of the Territory now, both economically and socially. We have made a deliberate decision to go into deficit to fund our infrastructure budget to protect and create jobs in an environment of reducing GST revenue. We know this is the responsible thing to do.
Listen to the economic commentators and the response from this budget. Everyone except the CLP understands where the Territory is in its economic and social cycle, and how this government is ensuring we have the economic and social drivers right in the budget outcomes. The budget is worth $5.3bn. It is financially responsible and sustainable. It supports families to get ahead, and it builds on our economic opportunities.
Last updated: 09 Aug 2016